Rick Otton Exposes The True Strategy Behind Buying Houses At A Bargain Price
(PRWEB) July 14, 2013 -- Rick Otton, a respected real estate strategist, reminds Aussies that there is a better way of getting real estate bargains aside from hunting down the country’s top property hot spots.
A recent market survey revealed that Queensland is a haven for bargain hunters as 17 out of the top 50 property hotspots in the country can be found over there. Survey authors believe that buyers should take advantage of affordable housing opportunities found in locations included in the list.
As a response to these conclusions, Mr. Otton explained in a Creative Real Estate iTunes podcast that bargains “go beyond its traditional concept which means slashing 50 per cent out of a house’s original price or finding the current hot spot.”
“Reducing the price of a house in order to attract buyers is not the solution to sell a house easily,” Mr. Otton said. “To get the bargain, both buyers and sellers must agree in a creative payment term. In agreeing to these terms, both of them also get benefits from the property transaction.”
“With the traditional process of buying and selling houses, buyers actually pay up to 3 times the original value of the house they are buying because of interest rates attached with the home loans they received. So if you have a loan worth $500,000, you actually end up paying $1.5 million in total,” Mr. Otton revealed.
Mr. Otton offered the “10 for 10” strategy as an alternative solution for buyers. He explained that the strategy only requires buyers to pay the seller the price of the real estate property plus 10 per cent of its current value for a period of 10 years.
“This is beneficial for both parties since buyers would save more money in the long term, while sellers get additional cash flow for the properties they sold,” he shared.
“Aussies should start to accept the reality that it’s not about the location, price, or structure of the house which matters when they want to get a bargain, instead they should focus on learning about out of the box solutions that help them achieve long-term savings,” according to Mr. Otton.
Visit http://www.creativerealestate.com.au/ now to listen to more of Rick Otton’s investment property tips for beginners.
About Rick Otton
Rick Otton has spent decades making money by snapping up inexpensive real estate and putting it to work building wealth, and teaching others to do the same.
He is the founder and CEO of We Buy Houses, which operates in the US, UK, Australia and New Zealand, and through this business he puts his strategies to work every day.
Mr Otton received his start in alternative real estate investment in 1991 in the US, and within a year acquired 76 properties. In subsequent years, he made a fortune using his low-risk, high-reward strategies to inexpensively acquire real estate. He continues to do so.
As well Mr Otton travels between his home in Australia, and the UK, sharing his wisdom and teaching others how to buy and sell real estate, free from the constraints imposed by traditional lenders.
In 2013 Rick is celebrating the 10 year anniversary of introducing his property option strategies to real estate investors in the United Kingdom – the first person to reveal these ground-breaking strategies. In 2008 he created the first of his ‘Houses for a Pound’ strategies, upon which he grows as markets and laws evolve.
Mr Otton has been featured in a variety of television programs and magazines and in 2013 he published ‘How To Buy A House For A Dollar’ for the Australian market. This book has been named in the list of the Top 10 Most Popular Finance Titles for 2013, as voted by Money Magazine and Dymocks Book stores. A UK version is on the drawing board.
For full details of Mr Otton’s upcoming ‘How to Buy a House for a Dollar’ seminars in major cities across the nation, visit HowToBuyAHouseForADollar.com or phone, in Australia 1300 888 450.
For general information about Mr Otton, visit http://www.RickOtton.com.
Jane Otton, rickotton.com, http://www.rickotton.com, 0-207-000-1027, [email protected]
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